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1� <br />CONSENT <br />INDIAN RIVER COUNTY, FLORIDA <br />MEMORANDUM <br />TO: Jason E. Brown, County Administrator <br />THROUGH: Richard B. Szpyrka, P.E., Public Works Director <br />FROM: Monique Filipiak, Land Acquisition Specialist <br />SUBJECT: Mattress Firm — Amendment to Lease <br />1919 US Highway 1, Sebastian, FL 32958 <br />DATE: December 1, 2021 <br />DESCRIPTION AND CONDITIONS <br />The County purchased Sebastian Corners Retail Center, LLC located at 1919-1931 US Highway 1, <br />Sebastian, Florida on September 5, 2017. The purchase was for the relocation of the North County Offices <br />of the Property Appraiser, Clerk of the Court, Utilities Department and Veteran Services. <br />Mattress Firm is a tenant at the retail center. They currently have a five (5) year lease with the County <br />that will expire on June 30, 2022. At the expiration of the current term Mattress Firm will have the <br />Option to extend the lease for a (5) year period from July 1, 2022 —June 30, 2027. <br />Mattress Firm has exercised its option to extend the lease for an additional five (5) year period <br />commencing on July 1, 2022. The base monthly rent for the renewal term will be $5,400.00 ($13.50 per <br />square foot or $64,800.00 annually). <br />IdIILIIalI'll ee <br />No funding is necessary for this action. <br />RECOMMENDATION <br />Staff recommends the Board approve the lease renewal for Mattress Firm and authorize the Chairman to <br />execute the Amendment to Lease. <br />ATTACHMENTS <br />Amendment to Lease <br />APPROVED AGENDA ITEM FOR: December 14. 2021 <br />a, <br />